Bangkok--22 Jun--Spark Communications
SMART PURSE using contactless technology brings a secure, convenient and cashless payment method to Thailand
Royal Philips Electronics (NYSE: PHG, AEX: PHI) announced today that it’s world leading smart card chip technology was chosen by Thai Smart Card to enable the first contactless e-purse application in Thailand. Using Philips’ secure smart card chip technology, Thai Smart Card’s SMART PURSE, a digital cash card, makes retail shopping more convenient and cash a thing of the past. With SMART PURSE, in addition to payment, more applications like e-voucher, e-ticketing are also expected to happen in Thailand.
Philips and Thai Smart Card have identified a rising trend in the use of contactless E-purse in Thailand and plan to issue one and a half million cards in Thailand this year, with the current run rate of 5,000 cards per day. Retailers such as 7-11 and supermarkets have already committed to implementing Smart Purse for payment. The e-Purse application not only provides a secure and fast transaction for cardholders but also lowers the operation costs for retailers since less manpower is needed. It also helps retailers to keep lower amounts of cash on their premises, which consequently decreases the risk of robbery. By using Smart Purse, cardholders do not have to carry cash. With contactless technology, the card does not have to touch the card reader, which allows for a fast, secure and smooth payment transaction. Shopping has never been easier.
“Cashless and contactless payment is a global trend. Consumers in Thailand are now experiencing the “cool” way to pay. We are pleased to be Thai Smart Card’s partner to realize simple and secure payment for people in Thailand,” said Pongtorn Thep-akrapong, General Manager, Semiconductors Division, Philips Electronics (Thailand) Ltd. “This speeds up the payment process which is very practical in convenience stores and other quick-serving outlets.”
Card holders can easily pre-load cash value into the microprocessor chip stored on the card as electronic money before using it to pay or activate for merchandise or service at a merchant’s location. The card also has added security capabilities such as a series of encryption algorithms and electronic keys to help keep the information stored on the chip secure. In addition, the card also provides a high reliability against water and dirt.
“The security measures are one of the main reasons why Thai Smart Card selected Philips as the supplier of the chip,” Mr. Korsak Chairasmisak, Chief Executive Officer, Thai Smart Card stated. “We are pleased with advanced security measures since Philips is always striving to achieve the highest global standards. We are looking forward to a successful partnership with them and believe that the new technology will be well received by the Thai people.”
“Convenience stores are only a starting point,” said Mr. Korsak Chairasmisak, “We will introduce many more products and services to greet the e-purse. Imagine how easy your life would be, to live without cash. Apart from the using the e-purse for retail shopping, other payment alternatives which will be introduced in the near future include mass transportation fare system, identification, database management, incentive program, E-vouchers and E-Ticketing and Internet applications such as e-commerce and secure access control.”
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 30.4 billion in 2005. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,500 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.semiconductors.philips.com .
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Krittya Walairat/ Thitima Lerdtaninvanich
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